Urban Properties Acquires Two California Hotels
Tuesday May 21st, 2013 - 11:35AM E
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LOS ANGELES—Urban Commons LLC, together with Brighton Management, recently purchased two properties in California. The acquired hotels include the Embassy Suites, an all-suite, full-service hotel situated over nine acres of sprawling desert in Palm Desert, and Radisson Plaza in San Jose, a full-service, five-story 196-room hotel situated on 2.75 acres.
Both acquisitions come due to the recent foreclosure of the property completed by its lender, according to Urban Commons.
Since 2007, the Embassy Suites in Palm Desert, CA, has undergone major renovations. Plans are already in place to infuse another $6 million worth of improvements and upgrades to further modernize the property. These renovations will allow the hotel to attract an upscale clientele. Situated in the Coachella Valley, Palm Desert is well known as a weekend get-away destination among residents of Los Angeles due to its close proximity.
The acquisition of Embassy Suites in San Jose begins the commencement of the new Four Points by Sheraton San Jose. Located one mile east of the Norman Y. Mineta San Jose International Airport, the San Jose airport area does not currently contain any Starwood brand hotels. The closest Starwood product is a small historic building located in downtown San Jose with the Sheraton Four Points flag.
Tags: • Hospitality • Acquisitions •
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